Jainarayan Hariram Goel Charitable Trust Vs CIT (Exemption) (ITAT Raipur) We find prima facie merit in the various pleas advanced on behalf of the assessee as narrated above. It is a settled principle of law that the onus lies on the person who alleges untruthfulness against the other persons. In the instant case, the allegation […]
Sanjay Agrawal Vs DCIT (ITAT Raipur) – Rejection of books, arbitrary income estimation, and legal principles – AY 2012-13.
DCIT Vs Singhania Buildcon Pvt. Ltd. (ITAT Raipur) 1. AO has not made any attempt to rebut the claim of the assessee. The confirmations were filed by the assessee to support the factual position. The assessee has placed the facts which are apparent in nature for which no rebuttal has been done. 2. The Hon’ble […]
Bharat Agro Industries Vs ITO (ITAT Raipur) The first allegation concerns infringement of Section 40A(3) of the Act and consequent applicability of Section 40(a)(ia) of the Act. In this regard, it is the case of the assessee that purchases were made from villagers/Tribals who are procuring the seeds and supplying the same to the assessee. […]
In present facts of the case, it was observed that in the absence of reasons, the jurisdiction assumed under section 148 of the Act to reopen a completed assessment is clearly void ab initio and consequently, assessment order is bad in law.
Held, That The Assessing Officer had conducted enquiry and after various rounds of hearing and deliberation with the assessee and scrutinizing the documents filed before him as well as submissions of the assessee, the Assessing Officer had passed an order.
Grants/Financial Assistance received by assessee, a Government Company, from the State Government for Development of Coal Block/Mines – Grants/Financial Assistance received from Mineral Development Fund (MDF) under the provisions of Chhattisgarh Mineral Development Fund Act r.w. Chhattisgarh Mineral Development Fund Rules towards Capital Outlays or incurment of capital expenditure would be in the nature of capital receipts not chargeable to tax
Assessee is a corporation of the Chhattisgarh Government and has received subsidies for opening a mine. Assessee treated the said subsidy as ‘capital receipt’, however, department contended it to be ‘revenue receipt’.
Shree Vimalnath Jain Swetamber Mandir Trust Vs CIT (ITAT Raipur) We find that the learned Commissioner (Exemption) has refused registration under section 12AA of the Act to the assessee since donations received were not properly accounted for and also because that the objects of the Trust was for betterment of Jain Community and for benefit […]
It was finally contended that the aforesaid compensation was determined and received on closure/ termination of its business activity resulting in to loss of source of income impairing its profit making structure or sterilization of profit making apparatus, therefore, the assessee company treated the same as Capital receipt not chargeable to tax and accordingly has shown the same under the head ‘Reserve and Surplus’.
